Omnicom Group Inc. $OMC Stock: Kestra Private Wealth Services LLC Reduces Stake

Key Points

• Kestra Private Wealth Services cut its Omnicom stake by 64.5% in the third quarter, leaving it with 6,613 shares valued at about $487,000.
• Omnicom reported quarterly EPS of $2.73, beating the $2.67 consensus, and revenue of $6.42 billion, up 59.1% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $100.67; five analysts rate the stock Buy, six Hold, and one Sell.

Kestra Private Wealth Services LLC cut its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 64.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,613 shares of the business services provider's stock after selling 12,020 shares during the period. Kestra Private Wealth Services LLC's holdings in Omnicom Group were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Omnicom Group during the second quarter valued at $2,082,476,000. Bank of New York Mellon Corp purchased a new stake in Omnicom Group in the second quarter worth about $914,156,000. Nykredit A S bought a new position in Omnicom Group during the 2nd quarter worth about $126,937,000. Pacer Advisors Inc. grew its holdings in Omnicom Group by 116.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider's stock worth $214,451,000 after acquiring an additional 1,530,743 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Omnicom Group during the 2nd quarter valued at about $105,402,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 1.0%

Shares of NYSE OMC opened at $86.25 on Friday. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57. The business has a fifty day moving average price of $79.57 and a 200 day moving average price of $78.40. The stock has a market capitalization of $23.53 billion, a P/E ratio of 48.18, a price-to-earnings-growth ratio of 0.80 and a beta of 0.72. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.76.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.06. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.21 billion. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. The firm's quarterly revenue was up 59.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post 10.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Omnicom Group from $115.00 to $111.00 and set an "overweight" rating for the company in a report on Friday, October 23rd. Citigroup dropped their price objective on shares of Omnicom Group from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Argus upgraded shares of Omnicom Group to a "hold" rating in a research note on Monday, September 14th. Zacks Research raised shares of Omnicom Group from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th. Finally, Barclays reduced their price objective on shares of Omnicom Group from $88.00 to $87.00 and set an "equal weight" rating for the company in a research note on Monday, October 26th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $100.67.

Insider Activity at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares of the company's stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

Omnicom Group Profile

Omnicom Group is a global marketing and communications company that provides advertising, media planning and buying, public relations, branding, and customer relationship management services. Its agencies also work in areas such as healthcare communications, digital marketing, and data-driven marketing.

The company was formed in 1986 through the combination of advertising agencies BBDO, Doyle Dane Bernbach, and Needham Harper Worldwide. Omnicom operates through a network of agencies and serves clients across major markets around the world.

Omnicom is headquartered in New York.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.